We leased a car in the name of our self employed business and I am wondering what to do if we did not keep track of the actual business miles, versus personal miles. We drove the vehicle 15076 miles in 2016, but I dont know exactly how many of those were for business. What is your advice on what I should report on my tax return?
You should make an attempt to create a reasonable estimate of your business miles. for example, if you drove the same route multiple times you could estimate the approximate number of times and the mileage. You are really required to keep written records of your mileage for business, so do the best job you can to estimate that mileage, put it in writing and describe how you arrived at the numbers. In an audit, the deduction can be disallowed without good written records.